MEF reviews policies to boost economic productivity
MEF reviews policies to boost economic productivity
The Ministry of Economy and Finance (MEF) recently organised several meetings and discussions with the public and private institutions to ensure the effective and productive uses of the national budget in line with the economic policies master plan.
Aun Pornmoniroth, Deputy Prime Minister and Minister of MEF, Wednesday presided over a meeting to review the National Policy Framework on Productive Economy 2022-2035 attended by members of the National Committee for Economic Productivity of Cambodia (NECC).
During the meeting, Pornmoniroth presented the summary report of the development progress and the NECC’s mechanisms in monitoring and evaluating the project to strengthen quality and ensure achievements in line with the economic productivity plan from 2022-2023.
According to MEF, the launch of the social economic policy framework in November 2022 aimed at increasing the high value-added economy by improving the competitiveness of the production, services quality, trade and investment attractiveness.
The meeting was attended by Say Samal, Deputy Prime Minister and Minister of Land Management Urban Management Planning and Construction (MLMUPC) and Hang Chuon Naron, Deputy Prime Minister and Minister of Education Youth and Sports (MoEYS), Sok Soken, Minister of Tourism (MoT), Cham Nimul, Minister of Commerce (MoC), Peng Ponea, Minister of Public Works and Transport (MPWT), Dith Tina, Minister of Agriculture, Forestry and Fisheries (MAFF), Bin Trachhey, Minister of Planning (MoP) and Hem Vanndy, Minister of Industry, Science, Technology & Innovation (MISTI).
On the same day, MEF and MPWT working groups organised a technical meeting on the revenue and expenditure plan for 2025, discussing the effective ways to use the national budget to reflect on the aspects of revenue collection management, coordination network and expenditure.
During the meeting, both sides exchanged views on how to effectively manage the national budget while also considering the potential activities to be included in the annual Budget Strategic Plan (BSP) and the budget plan (BP) in accordance with the Financial Law for Management.
A day earlier, MEF collaborated with the International Monetary Fund (IMF) in conducting a consultative workshop theme “Data Governance in MEF Digital Ecosystem” which was presided over by Meas Soksensan, Secretary of State of MEF at the Hyatt Regency Hotel Phnom Penh.
The consultative workshop aimed at gathering inputs from all general departments and entities, delving deep down into the concept of data governance and interoperability framework.
During the groundbreaking ceremony of the twin flyovers at Samdech Techo Hun Sen Blvd on June 17, Prime Minister Hun Manet said that the country’s economy will grow at the rate of 6 percent this year, and it may rise even more in 2025.
“All sectors are recovering from the global pandemic and economic crisis hence overall growth will increase as well,” the Premier added.
Based on the recent report of the World Bank titled ‘Cambodia’s Export Revival and Trade Shifts’, the Kingdom’s growth is expected to improve marginally to 5.8 percent this year, up from 5.6 percent last year and further reach to 6.1 percent in 2025.
